SpaceX shares crashed below the $135 IPO price, wiping out $1 trillion since June. A scrubbed Starship launch and upcoming investor lockups triggered the selloff.
The “IPO price” for institutions (banks, hedge funds, a tiny bit for retail brokers) was $135. It opened on the public market at $150-something.
Still perhaps more than the company is worth, but at this point an institution that fought to get in on the IPO would be down 23% (unless they dumped it, which plenty did).
The market can stay irrational longer than you can stay solvent.
The stock hit $123 on Friday. It’s still got a $1.6T market cap. I have no idea where they got that headline from.
The “IPO price” for institutions (banks, hedge funds, a tiny bit for retail brokers) was $135. It opened on the public market at $150-something.
Still perhaps more than the company is worth, but at this point an institution that fought to get in on the IPO would be down 23% (unless they dumped it, which plenty did).
Because the high was just over $200. They are talking from its peak.